You are a consultant who works for the Diligent Consulting Group. In this Case, you are engaged on a consulting basis by Loving Organic Foods. In order to get a better idea of what might have motivated customers’ buying habits you are asked to analyze the factors that impact organic food expenditures. You opt to do this using linear regression analysis.
Using Excel, generate regression estimates for the following model:
Annual Amount Spent on Organic Food = α + bAge
After you have reviewed the results from the estimation, write a report to your boss that interprets the results that you obtained.
Sample Solution